Alps Advisors Inc. Decreases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Alps Advisors Inc. lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.2% in the third quarter, Holdings Channel reports. The fund owned 26,560 shares of the biotechnology company’s stock after selling 4,037 shares during the period. Alps Advisors Inc.’s holdings in Corcept Therapeutics were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Ingalls & Snyder LLC lifted its stake in Corcept Therapeutics by 2.2% in the third quarter. Ingalls & Snyder LLC now owns 8,712,176 shares of the biotechnology company’s stock worth $123,147,000 after acquiring an additional 190,377 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Corcept Therapeutics by 10.5% in the second quarter. Renaissance Technologies LLC now owns 5,590,509 shares of the biotechnology company’s stock worth $62,334,000 after acquiring an additional 532,700 shares during the last quarter. Morgan Stanley lifted its stake in Corcept Therapeutics by 54.8% in the second quarter. Morgan Stanley now owns 1,564,554 shares of the biotechnology company’s stock worth $17,444,000 after acquiring an additional 553,851 shares during the last quarter. Northern Trust Corp lifted its stake in Corcept Therapeutics by 0.8% in the second quarter. Northern Trust Corp now owns 1,291,993 shares of the biotechnology company’s stock worth $14,406,000 after acquiring an additional 10,825 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Corcept Therapeutics by 49,048.1% in the third quarter. Parallel Advisors LLC now owns 1,277,851 shares of the biotechnology company’s stock worth $18,062,000 after acquiring an additional 1,275,251 shares during the last quarter. Institutional investors own 76.65% of the company’s stock.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $20.00 price target for the company. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research report on Friday, August 16th. ValuEngine downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, HC Wainwright began coverage on shares of Corcept Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $15.00.

Shares of NASDAQ:CORT opened at $16.38 on Thursday. The company has a market capitalization of $1.72 billion, a PE ratio of 27.30 and a beta of 1.35. Corcept Therapeutics Incorporated has a twelve month low of $9.14 and a twelve month high of $19.48. The firm has a 50 day simple moving average of $14.38 and a 200-day simple moving average of $12.25.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $81.51 million during the quarter, compared to the consensus estimate of $77.86 million. Corcept Therapeutics had a net margin of 30.41% and a return on equity of 29.08%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.74 EPS for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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